Texas Permanent School Fund Corp Sells 4,457 Shares of Kite Realty Group Trust (NYSE:KRG)

Texas Permanent School Fund Corp lowered its stake in shares of Kite Realty Group Trust (NYSE:KRG) by 2.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 187,548 shares of the real estate investment trust’s stock after selling 4,457 shares during the period. Texas Permanent School Fund Corp owned approximately 0.09% of Kite Realty Group Trust worth $4,197,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Kite Realty Group Trust during the fourth quarter valued at approximately $52,746,000. Vanguard Group Inc. boosted its holdings in Kite Realty Group Trust by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 33,597,373 shares of the real estate investment trust’s stock worth $728,391,000 after acquiring an additional 881,502 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in Kite Realty Group Trust by 28.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,120,121 shares of the real estate investment trust’s stock worth $71,326,000 after acquiring an additional 693,852 shares during the last quarter. F M Investments LLC bought a new stake in shares of Kite Realty Group Trust in the 2nd quarter worth $10,164,000. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Kite Realty Group Trust by 430.7% in the first quarter. Daiwa Securities Group Inc. now owns 352,219 shares of the real estate investment trust’s stock valued at $7,636,000 after purchasing an additional 285,856 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

Kite Realty Group Trust Stock Up 1.5 %

Shares of NYSE KRG opened at $26.83 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market capitalization of $5.89 billion, a PE ratio of 103.19, a P/E/G ratio of 3.97 and a beta of 1.29. Kite Realty Group Trust has a one year low of $19.64 and a one year high of $26.91. The business’s fifty day moving average price is $24.67 and its 200-day moving average price is $22.49.

Kite Realty Group Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, October 9th. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 3.88%. Kite Realty Group Trust’s dividend payout ratio is 400.00%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Robert W. Baird boosted their price target on shares of Kite Realty Group Trust from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $23.00 to $26.00 in a research note on Wednesday, August 28th. Compass Point lifted their price target on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Piper Sandler boosted their price objective on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Raymond James raised Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price for the company in a research report on Friday, August 16th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets.